Sberbank’s bid book of exchange-traded bonds of the series 001P-06R, with a volume of RUB 40 bln was closed successfully yesterday.
The coupon rate guidance is set at 7.20% per annum. The period of bonds’ circulation is 5 years after placement. The organizers are Sberbank CIB1, Russian Agricultural Bank and BC Region. The total demand of applications exceeded the placement volume by more than 50%.
“Despite the previously observed market turbulence, we see strong demand for our bonds, thanks to which the spread to OFZ narrowed, compared to the previous issue. We will continue to implement our strategy on the Russian debt market in accordance with our investors’ demand,” commented Alexander Morozov, Deputy Chairman of the Executive Board of Sberbank.
The technical placement of exchange-traded bonds is preliminarily scheduled for 25 May 2018 at the Moscow Stock Exchange.
Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 145 million customers in 20 countries. Sberbank has the largest distribution network in Russia with almost 15,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, India, China, Turkey and other countries.
Sberbank CIB is the corporate and investment banking business of Sberbank. Its key areas of activity are corporate finance (including trade finance), the documentary business2, investment banking services, trade operations with securities, and private equity. Sberbank’s corporate and investment banking business provides integrated financial solutions and investment advisory services to its clients, which include major corporations, financial institutions, sovereign states and federal and sub-federal government bodies and organisations.